In the performance of an audit, a CPA

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A CPA must exercise due professional care, which involves maintaining an appropriate level of professional skepticism, assessing the risk of material misstatement, and obtaining sufficient and appropriate audit evidence to support the opinion issued. While a CPA has a responsibility to detect material fraud, they are not expected to detect immaterial fraud. Privately held clients may not be subject to GAAP, but the auditor should follow the applicable accounting framework and related standards, such as GAAS.

In the Performance of an Audit, a CPA